Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: KuCoin against Lighter−2.610%7-day average −3.135% · you buy dearer than you sell

Net, funding: paid 7d − costs−$771as in the Funding arb table

Net, price: spread back to 7d avg − costs−$729as in the Price arb table

costs, in and out, $10k−$7817.813% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)−1.428%−$143 · spread now −2.610%, 7d avg −3.135%

Together, before fees−1.325%+ Points / potential airdropLighter: Season 3 · farm board−$132 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.525% dearer against Lighter than usual: you sell high and buy low: +$53 more if the spread goes back to its 7-day average of −3.135%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ANTHROPIC	2,167.3	0	get 0.0000% / 1h	39m 09s	$1.9M	$903K	5x
Short	KuCoin ANTHROPICUSDTM	2,110.7	0.0050	get 0.0050% / 8h	1h 39m	$498K	$25K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee KuCoinbpOrdersPrice spread, now −2.610%Rate

Funding earned: $10.5
Price spread: −2.610% → −3.135%: $52.52
Slippage, 4 orders: −$769.31
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$718.3
Costs to cover: 7.813%
Break-even: 485.9 days

Slippage from Lighter: live order book, 2 min ago; KuCoin: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 2 min ago	0.69 bp	13.3 bp −$13	192.7 bp −$1,927	720.5 bp −$72.0K	doesn't fit
Sell KuCoin live order book, 5 min ago	18.56 bp	170.7 bp −$171	doesn't fit	doesn't fit	doesn't fit

ANTHROPIC on 21 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ANTHROPIC-USDT	−0.0430%	8h	2,107.1	−2.777%	$42K	$68K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0080%	1h	2,120.7	−2.150%	$267K	$25K	5x	as long as short
Lighter ANTHROPIClong	0.0000%	1h	2,167.3	long leg	$1.9M	$903K	5x
Bybit ANTHROPICUSDT	0.0000%	8h	2,153.3	−0.647%	$2.3M	$423K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.5	−0.129%	$4.8M	$850K	10x	as long as short
QFEX ANTHROPIC-USD	0.0000%	1h	2,106.5	−2.807%	$1.4M	$1.1M	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,152.1	−0.700%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105.2	−2.868%	$25.9M	$3.2M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,110.1	−2.639%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.4	−2.766%	$1.6M	$381K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ANTHROPIC-USDT	+0.0031%	8h	2,106.6	−2.801%	$270K	$258K	20x	as long as short
Lighter RH ANTHROPIC	+0.0032%	1h	2,163.7	−0.166%	$6.3M	$16.2M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.2	−2.821%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,106.7	−2.798%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,106.6	−2.799%	$32.1M	$8.3M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,106.8	−2.791%	$7.8M	$273K	50x	as long as short
KuCoin ANTHROPICUSDTMshort	+0.0050%	8h	2,110.7	−2.610%	$498K	$25K	20x
Variational Omni ANTHROPIC	+0.0050%	8h	2,106.3	−2.814%	$2.4M	$620K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.8	−2.747%	$10K	$163K	10x	as long as short
Entropy io:ANTH	+0.0095%	1h	2,152.7	−0.674%	$35.0M	$7.5M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107	−2.780%	$10K	$63	10x	as long as short